EU BUDGET Commissioner Gunther Oettinger sparked outrage from Italian politicians after he suggested markets would "teach Italians to vote for the right thing" – Istituto degli Affari Internazionali president Ferdinando Nelli Feroci tore into the eurocrat as he urged Italians to move on.

Mr Nelli Feroci, who served as commissioner for Industry and Entrepreneurship in 2014, slammed the German eurocrat for his "terrible mistake."

Mr Oettinger suggested the downturn in Italy's economy could be the result of a surge of support for the populist parties Lega and Five Star Movement (M5S).

Speaking exclusively to Express.co.uk, Mr Nelli Feroci claimed not to be surprised by the outburst and urged Italians to forget the incident.

He said: "It has been a terrible mistake by someone who has made similar mistakes in the past so we are not particularly surprised given the personality of Commissioner Oettinger.

YOUTUBE

Italy news: Ferdinanco Nelli Feroci called for Mr Oettinger's comments to be "forgotten"

"A terrible mistake because it conveys exactly the sort of message that we don’t deserve and we don’t need, and the idea that markets can control democratic processes, something which is completely unacceptable."

He added: "It has already been corrected by the President of the European Commission, the President of the European Council.

"I think this is something that should quickly be forgotten and let’s go back to business, meaning a correct relation between national Governments and European institutions."

Mr Oettinger swiftly apologised for his comments but not before being targeted with calls for his resignation coming from representatives from Lega and M5S.

I think this is something that should quickly be forgotten and let’s go back to business

Ferdinando Nelli Feroci

Italy was plunged into further political uncertainty after President Sergio Mattarella vetoed the nomination of anti-euro economist Paolo Savona as Finance Minister.

Lega and M5S leaders Matteo Salvini and Luigi di Maio met face to face on Thursday afternoon to discuss their joint cabinet proposals in a last bid to form a government before pushing the country to a new vote in the autumn.

The pair later announced the "conditions to form a political government" had been found and set out to present President Mattarella with their new cabinet proposals.

The reshuffle brought back Giuseppe Conte, who returned the mandate to form an executive on Sunday, as PM and moved Prof Savona to the European Affair Ministry. Economist Giovanni Tria was nominated to take over his place as Finance Minister.